Amazon


AMZN

is continuously taking steps to strengthen its cloud computing division — Amazon Web Services (AWS). Moreover, the e-commerce giant is leaving no stone unturned to expand AWS offerings in a bid to deliver an enhanced cloud experience to customers.

The latest move of making its new service offering anomaly detection solution — Amazon Lookout for Metrics—generally available is a testament to the same.

Backed by Machine Learning (ML) technology, the service is well-equipped to detect anomalies in business metrics such as revenues, active users, transaction volume, web page views and mobile app installations automatically.

Moreover, Lookout for Metrics is capable of finding out the root cause of anomalies like unexpected declines in revenues, a rise in payment transaction failures, and unexpected surges in new-user sign-ups.

The service does all these by preparing the data and selectingthe ML algorithm accordingly.

We believe that the latest move is likely to help AWS gain strong traction among several businesses across various industries as the underlined service helps in monitoring their key performance indicators efficiently.

Customer Base to Expand

We note that customers using the new service will have topay for the number of metrics analyzed per month, without any upfront payment.

This along with the above-mentioned benefits is likely to bolster the adoption rate of Amazon Lookout for Metrics.

Notably, customers like DevFactory, Digitata, More Retail, Slalom, Wipro and Flywire have already shown interest in the new service.

We believe that the growing customer momentum will continue to drive AWS’s top line. Moreover, strengthening clientele will continue to aid its competitive edge against its peers like

Microsoft


MSFT

,

Alphabet

’s

GOOGL

Google and

Alibaba


BABA

.

Per the latest Canalys data, Microsoft Azure, Google Cloud and Alibaba Cloud acquired worldwide cloud market share of 20%, 7% and 6% in fourth-quarter 2020, respectively, while Amazon led with a 32% share.

Portfolio Strength

The latest move bolsters the portfolio of AWS services and products.

Apart from Amazon Lookout for Metrics, the company recently made Amazon Lookout for Vision generally available. Notably, the new service is well-equipped to process several images in an hour to detect defects and anomalies in manufactured products, using computer vision and ML capabilities.

Further, AWS unveiled One Zone storage classes for Amazon Elastic File System (Amazon EFS), which provides lifecycle management and integration with computing services like Amazon Elastic Kubernetes Service, AWS Fargate, Amazon Elastic Container Service and AWS Lambda.

Additionally, the company made X2gd instances for Amazon Elastic Compute Cloud (Amazon EC2) generally available. This has expanded the instance offerings of Amazon EC2.

We believe that the expanding AWS portfolio will continue to strengthen Amazon’s dominance in the booming cloud market.

Currently, the company carries a Zacks Rank #3 (Hold). You can see


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